04-04-1922 to 12-31-1929 Ordinance 074 to 319

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Section 8. That for the purpose of providing the necessary funds to pay the interest on the foregoing issue of bonds promptly when and as the same falls due, and also to create and r.aintain a sinking fund sufficient to discharge the said bonds at maturity, there shall be, and is hereby levied on all the taxable property of the Village of 'North Olmsted in addition to all other taxes, a direct ttx 'annually during the -perio or which said bonds are to run in an amount sufficient to provide for any deficiency in the levy, payment or colle -tion of said assessments as the same :fall due. That said tax shall be and is herrbY ordered computed, certified, levied and extended upon the tax duplicate and collected by the same of- ficers, in the same manner and at the same time that.the taxes for general purposes for each of said years are certified, extended and.collected. That all funds derived from said tax levies hereby required, shall be placed in a separate and distinct fund, which, together with all interest collected on the same shall be irrevocably pledged for the payment of the interest and principal of said bonds when and as the same fall due. Section S. This Ordinance shall take effect and be in force-from and after the earliest period alloyed by law. Read the first time December 170 1929 Moved by Mr. Biddulph seconded by Mr,, Christman that the statutory rule be suspended and that Ordinance No. 318 be read imme- diately the second and third times and put upon its passage. The affirma- tive vote on said motion was as follovis :- Biddulph, Bidwell Christxiai, Schindler, Seltzer, Stira. Thereupon the Ordinance was 'read the second and third times and put upon its passage and the affirmative vote thereon was as follows : - Biddulpli, Bidwell, Chrisinm. , Sehirdler, Seltzer, Stine., Ordinance passed December 17, 1929 Approved and signed by the Mayor, December 2,7, 1929 Mayor. I'T' r riz�ee� '- .— Clerk.